According to the latest report published by Variant Market Research, the global solar control glass market size was valued at $4,526 Million in 2016 and is estimated to reach $9,288 Million by 2024. In this report, the global solar control glass market forecast says that the global market is growing at a CAGR of 9.4% from 2016 to 2024.

Rising construction of residential and commercial building in emerging nations drives the global market

Rising construction of residential and commercial building in developing countries, and huge potential in automotive industry are the major solar control glass market trend. In addition, growing concerns about CO2 releases from air conditioners have also supported the solar control glass market growth. However, price uncertainty of raw materials is the major hindrance for the market growth. Furthermore, rising government initiatives to support the market, high budding growth in emerging economies and rising adoption of solar control glass in cars are expected to equally influence the overall growth of market during the forecast period.

Market Segmentation

The global solar control glass market has been mainly segmented on the basis of application, and geography. The application segment is sub-segmented into automotive, residential buildings, residential buildings, and other applications. By geography, the global solar control glass market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe covers France, Italy, Germany, UK, and Rest of Europe. Asia-Pacific is categorized into Japan, China, India, and Rest of Asia-Pacific, while Rest of the World is bifurcated into Middle East, South America, and Africa.

Commercial buildings contributed for the major market share in the application segment

In the year 2016, commercial building accounted for the largest solar control glass market share in the application segment and is expected to continue its trend throughout the forecast period 2016 – 2024. The high growth is attributed to the growing awareness about CO2 emissions from ACs which ultimately increases usage of solar control glass in many construction projects.

Europe occupied the maximum share of the global solar control glass market in 2016

Europe generated the highest revenue accounting for 46.7% of the total market share in the year 2016 and is likely to endure its position during the forecast timeframe. The primary reason for the large growth is obligation of European Union to save about 300 million tons of CO2 annually from residential and commercial buildings by 2020, which is estimated to have a positive impact on the demand for solar control glass in this region. In addition, high manufacturing of solar control glass windows has increased a demand in Europe region. Asia-Pacific is likely to achieve the fastest CAGR during the forecast period, owing to growing awareness for the benefits of solar control glass in the region.